Hardware
Toshiba accepts $15B bid to go private
March 23, 2023
Toshiba Corp. has accepted a $15 billion offer from a consortium led by a Japanese private equity fund on Thursday, which could result in the country's biggest private takeover, according to persons familiar with the arrangement, the Financial Times reported. The conglomerate was valued at 1.8 trillion yen ($14 billion) today.
Japan Industrial Partners led a consortium of 20 companies including chipmaker Rohm, Chubu Electric Power and financial services group Orix.
The takeover, if supported by Toshiba's shareholders, will result in the delisting of the company, a fate it barely avoided in 2017 when its U.S. nuclear business nearly caused a bankruptcy.
The company began soliciting bids last spring, attracting interest from the buyout funds and selected JIP in October.
The company did not comment on board approval, while JIP was not available for comment at the time of this report.
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